tencent

Tencent Holdings fell 4.46%, with a market value of 4 trillion Hong Kong dollars, approximately 3.44 trillion yuan. Changxin Technology's closing market value today is 3.5 trillion yuan, surpassing Tencent Holdings to become the largest listed company by market value in China.

According to Gate market data, the Hong Kong stock market opened, with the Hang Seng Index down 0.6% and the Tech Index down 0.29%. Tencent Holdings (00700.HK) opened down 3.29% after its earnings report.

Tencent Holdings released its Q2 2026 financial report, with revenue of 204.79 billion yuan, a year-on-year increase of 11%, slightly exceeding market expectations; Non-IFRS net profit was 68.4 billion yuan, a year-on-year increase of 9%; profit attributable to equity holders of the company was 56.022 billion yuan, a year-on-year increase of 0.7%. Capital expenditure was 52.78 billion yuan, a year-on-year increase of 176%, far exceeding the market expectation of 32.14 billion yuan, mainly used for AI infrastructure investment. The free cash flow for the quarter was negative 13.8 billion yuan; excluding prepayments for AI computing power purchases, free cash flow was 37.6 billion yuan.In terms of business, value-added services revenue was 98.4 billion yuan, a year-on-year increase of 8%, with domestic game revenue at 47.3 billion yuan, a year-on-year increase of 17%, significantly contributed by "Delta Action," "Valorant," and "Lock Kingdom: World"; international market game revenue was 18.6 billion yuan, down 0.8% year-on-year due to exchange rate effects, but up 4% year-on-year when calculated at constant exchange rates. Marketing services revenue was 43.6 billion yuan, a year-on-year increase of 22%, making it the fastest-growing segment; financial technology and enterprise services revenue was 60.3 billion yuan, a year-on-year increase of 9%.Regarding AI products, the report specifically mentioned that WorkBuddy achieved rapid user growth and a healthy user retention rate, with strong user willingness to pay. Its market-leading position is attributed to its strong harness engineering capabilities, a rich selection of models, and an industry-leading skill library. The official version of Hy3 saw a more than 68-fold increase in usage in the week following its launch compared to the previous generation, consistently ranking among the top three globally in terms of OpenRouter token consumption, with plans for a larger parameter scale Hy4 to be released soon. The AI agent Xiaowei within WeChat has initiated a small-scale gray testing. Excluding the contribution from new AI products, Non-IFRS operating profit increased by 19% year-on-year to 86.1 billion yuan. By the end of the quarter, the company's net cash decreased from 146.9 billion yuan at the end of March to 58.2 billion yuan.

According to Bloomberg, former chief architect of Alibaba's flagship model, Lin Junyang, recently announced the establishment of a new company on the X platform, focusing on developing artificial intelligence agents for the digital and physical worlds.This comes less than six months after his unexpected departure from Alibaba. The company has received investment support from Tencent Holdings and several leading venture capital firms in China.

According to Caixin's disclosure, Tencent, Zhenge Fund, Sequoia China, and other major shareholders of Manus previously repurchased Manus shares from Meta for $2 billion. This $2 billion transaction price is close to the acquisition price announced by the American social media tech giant Meta in December 2025. Benchmark was the largest shareholder before the acquisition but will not participate in this repurchase of Manus. Benchmark's previous shares will be acquired by Tencent, which will become Manus's largest shareholder. Currently, Manus is operating normally.Yesterday, Manus announced that it will soon resume independent operations. To complete this transition and meet regulatory requirements in some jurisdictions, affected users must complete data backups by 7:59 AM Singapore time on August 23 and begin data recovery from 8:00 AM on August 25 to ensure normal usage thereafter. Manus also stated that it is preparing a series of new features to further expand the capabilities of general AI entities and expressed optimism about the development prospects after the company resumes independent operations.

The Hong Kong stock market opened, with the Hang Seng Index down 0.6% and the Tech Index down 0.8%. Many gold stocks opened higher, while Tencent Music (01698.HK) opened down 11.41%. The company's total revenue for the second quarter was 8.93 billion yuan, a year-on-year increase of 5.8%, and it increased its buyback efforts to 400 million dollars.

This week will see several important events and data. On Monday, the Bank of Japan will release the summary of opinions from the July monetary policy meeting. On Tuesday, the Reserve Bank of Australia will decide on interest rates and hold a press conference. On Wednesday, the United States will release the July CPI data and EIA crude oil inventory. On Thursday, the UK and Eurozone will publish various economic data, and JD.com and Tencent will release their financial reports. On Friday, France and the Eurozone will release CPI and GDP data, and a new round of pricing adjustments for domestic refined oil will begin.

According to Jinshi reports, southbound funds had a significant net purchase of 11.031 billion yuan today. In the Hong Kong Stock Connect (Shanghai), the Tracker Fund of Hong Kong and Tencent Holdings received net purchases of 4.75 billion Hong Kong dollars and 1.498 billion Hong Kong dollars, respectively; SMIC had the highest net sell amount, totaling 371 million Hong Kong dollars.In the Hong Kong Stock Connect (Shenzhen), Alibaba-W and Tencent Holdings received net purchases of 3 billion Hong Kong dollars and 935 million Hong Kong dollars, respectively; SMIC had the highest net sell amount, totaling 692 million Hong Kong dollars.

Tencent's official X account stated that its research agent Hyra collaborated with the Hy3 model to explicitly prove an issue that has troubled the mathematical community for over 50 years: the optimal growth rate exponent of the size of the sum set |A+A| and the size of the difference set |A-A| for a finite integer set A is exactly 2. The theorem from 1969 provided an upper bound of 2, but for the following 50 years, the best constructed exponent was only slightly above 1.1.This achievement demonstrates the potential of AI agents in the field of pure mathematical reasoning. Tencent stated that Hyra is an AI research agent developed in-house, specifically designed to assist in the exploration of complex mathematical and scientific problems. This conclusion still requires confirmation through peer review by the mathematical community.

According to Jinshi reports, southbound funds had a significant net sell of 8.571 billion yuan today. In the Hong Kong Stock Connect (Shanghai), the Tracker Fund of Hong Kong and Pop Mart were net sold 1.972 billion HKD and 385 million HKD respectively; Tencent Holdings had the highest net buy amount, totaling 444 million HKD.In the Hong Kong Stock Connect (Shenzhen), SMIC and Alibaba-W were net sold 1.376 billion HKD and 993 million HKD respectively; Tencent Holdings had the highest net buy amount, totaling 568 million HKD.

According to a report by Z Finance, Tencent's AI-native desktop intelligent agent platform WorkBuddy entered public beta on March 9, achieving a monthly active user count of 20 million across all platforms within 3 months, with daily active users surpassing 13 million, including over 2 million daily active users on the PC side, and a DAU/MAU ratio stabilizing between 65%-75%. The product is led by Liu Yi, Vice President of Tencent Cloud, with a core team of about one hundred people, classified internally as one of the highest priority AI projects. The team claims they are currently only "temporarily ahead by half a position."WorkBuddy is derived from Tencent's previously launched AI programming assistant CodeBuddy, which has already covered about 12,000 engineers within Tencent. The product completed prototype development on January 17, and after the public beta in March, it has undergone a total of 43 iterations, gradually integrating capabilities related to QClaw developed by the Tencent PC Manager team based on an open-source framework. The product adopts a multi-model access strategy, with the underlying self-developed Harness engine for unified scheduling.In terms of commercialization, at the end of April, Tencent Cloud adjusted its pricing: the SaaS enterprise version was raised from 78 yuan/person/month to 198 yuan, and the private cloud enterprise version was raised from 158 yuan to 316 yuan. Market information indicates that it has acquired thousands of enterprise clients and over one hundred thousand paid seats, with an estimated annual revenue of about 300 million yuan. Third-party evaluations show that the product scored an average of 2.31/4 points on 70 questions (Word category 2.85 points, Design category 1.45 points), indicating that it is still some distance from producing stable results without manual modifications.

According to the official announcement, Bitget has launched Quanto perpetual contracts for Tencent (TENCENT), Zhipu AI (ZHIPU), and Xiaomi (XIAOMI), supporting up to 20 times leverage and 24/7 trading.TradFi Quanto perpetual contracts allow users to trade Hong Kong stocks and other overseas stocks priced in currencies other than USD directly using USDT, without the need to exchange foreign currency throughout the process. The contracts are quoted in Hong Kong dollars, while the margin deposit and profit and loss settlement are completed in USDT, effectively avoiding additional risks brought by exchange rate fluctuations while simplifying the trading process.

According to the official announcement, Gate has added Quanto perpetual contracts, which will be launched for the first time in the stock section on July 21 at 16:30 (UTC+8) for TENCENTHKD (Tencent Holdings 00700.HK), ZHIPUHKD (Zhiyuan 02513.HK), MINIMAXHKD (MINIMAX-W 00100.HK), and XIAOMIHKD (Xiaomi Group 01810.HK) Quanto perpetual contracts, supporting 1--20 times leverage.It is reported that the Quanto perpetual contracts support the underlying assets quoted in local fiat currency, with margin and profit and loss settled uniformly in USDT, allowing users to participate in overseas stock derivatives trading, such as Hong Kong stocks, without needing to exchange Hong Kong dollars in advance. This also reduces the impact of exchange rate fluctuations on trading profits, further enhancing the cross-market trading experience.

According to the official announcement, the Binance futures platform will launch the MINIMAX USDT perpetual contract at 11:00 on July 17, the ZHIPU USDT perpetual contract at 11:05, the HK0700 USDT Quanto perpetual contract at 11:10, the HK1810 USDT Quanto perpetual contract at 11:15, and the TENCENT USDT perpetual contract at 13:00.

DeepSeek's first round of financing has officially landed. Business registration information shows that DeepSeek's affiliated company, Hangzhou DeepSeek Artificial Intelligence Basic Technology Research Co., Ltd., recently underwent a business change, adding Hangzhou Chengli Enterprise Management Consulting Partnership (Limited Partnership) and National Artificial Intelligence Industry Investment Fund Partnership (Limited Partnership) as shareholders, with registered capital increased to 16.4475 million yuan.

According to informed sources, Tencent is in talks to become the largest shareholder of the AI entity company Manus.Most existing investors, including Tencent, ZhenFund, and Sequoia China, are discussing supporting a deal with a valuation of $2 billion to withdraw Meta's acquisition.

B.AI announced a strategic cooperation with Tencent Cloud, and both parties will jointly build enterprise-level financial infrastructure for the era of AI agents. With the rapid development of AI agent technology, higher demands have been placed on the stability, security, and scalability of underlying financial systems. This cooperation fully integrates B.AI's pioneering experience in on-chain finance with Tencent Cloud's world-leading cloud computing capabilities, aiming to build a solid technological foundation for the on-chain ecosystem. In the future, both parties will continue to enhance the stability and performance of on-chain financial infrastructure, providing sustained momentum for the growth of the digital economy.

According to the official announcement, to meet users' diverse investment needs, Bitget has launched contracts for 7 popular Hong Kong stocks: TENCENT, MEITUAN, NETEASE, XIAOMI, POPMART, SMIC, and GIGADEVICE. The above contracts are all settled in USDT, with a maximum leverage of 20 times.

According to the South China Morning Post, citing informed sources, the AI video generation startup Kling AI, spun off from Kuaishou, is about to complete a $3 billion financing round, with a post-investment valuation reaching $18 billion, with Tencent participating in this round of investment. It is reported that this final valuation has been adjusted down from the initial target of $20 billion set in April this year.Informed sources further pointed out that with the release of the latest AI video model driving a surge in annual recurring revenue, Kling AI plans to initiate the Hong Kong listing process within the next 12 months. The funds raised and future IPO revenue will mainly be used for infrastructure construction such as computing power and data centers, as well as recruitment and retention of talent.

According to a report by Reuters, informed sources revealed that Chinese memory chip manufacturer Changxin Memory Technologies (CXMT) has reached a long-term supply agreement with Tencent worth over 20 billion yuan (approximately 3 billion USD). This agreement mainly covers the supply of DRAM chips for servers over the next 3 to 5 years.The report pointed out that this large-scale cooperation comes as Changxin Memory is preparing for a 29.5 billion yuan IPO on the Shanghai Star Market. It is reported that Changxin Memory is currently negotiating similar collaborations with several other leading Chinese internet companies and is constructing a new DRAM factory in Shanghai. Once the new capacity is fully operational, its monthly DRAM wafer production capacity is expected to double to about 600,000 wafers.